Lisbon
Atlantic-facing European capital; tiles and trams; world-class gastronomy; tech and startup hub
* Exchange rates shown for illustration only, based on ECB mid-market rate. Actual transactions may be subject to conversion fees.
⚠ Local STR Restrictions — Lisbon
Lisbon: DL 76/2024 lifted national AL freeze, but municipalities retain power to restrict transfers in containment zones. 10% per-building threshold applies.
Market Analysis — Lisbon
Key demand drivers and main investment risks
✅Demand Drivers
- •Strong tourism
- •central-city liquidity
- •international resident demand
- •IFICI tax regime for new residents
⚠️Key Risks
- •AL policy/containment risk
- •very high entry price
- •cap-rate compression
- •RMAL uncertainty
🇮🇱 Notes for Israeli investors
Medium-high Israeli presence; active Israeli brokerage/relocation ecosystem in Portugal; visible capital in Lisbon market
Properties in Lisbon
1715 for sale·444 for rent
Properties for Sale in Lisbon
Latest Listings
Showing 1–12 of 50 listings
2-Bed Apartment · 89 m² in Alfama
3-Bed Apartment · 139 m² in Alfama
3-Bed Apartment · 72 m² in Alfama
2-Bed Apartment · 90 m² in Graca
1-Bed Apartment · 65 m² in Alfama
3-Bed Apartment · 119 m² in Alfama
2-Bed Apartment · 98 m² in Alfama
Studio · 38 m² in Alfama
2-Bed Apartment · 76 m² in Alfama
1-Bed Apartment · 49 m² in Alfama
2-Bed Apartment · 90 m² in Alfama
1-Bed Apartment · 75 m² in Alfama
Yield by Neighborhood — Lisbon
Microzone investment comparison — CASABROVA
| Neighborhood | Price/m² | STR Yield | STR Status | Character |
|---|---|---|---|---|
| Santa Marinha e São Pedro da Afurada | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Riverside area in Gaia with views of Porto and wine cellars |
| Santa Maria Maior | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Historic heart of Lisbon with São Jorge Castle, fado, and tourism |
| São João da Madeira | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Small industrial city in northern Portugal with low property prices |
| Várzea | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Quiet residential area with green spaces and reasonable prices |
| Santa Clara | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Northern neighborhood in Lisbon with green spaces and reasonable prices |
| Rio Tinto | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Suburb east of Porto with low prices and nearby metro |
| Moreira | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Quiet residential area with local amenities and reasonable prices |
| Paranhos (Lisbon) | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | University neighborhood in Lisbon with high student rental demand |
| Torrozelo e Folhadosa | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Rural villages in central Portugal with stunning nature and token prices |
| Misericórdia | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Historic neighborhood in the heart of Lisbon with nightlife, restaurants, and heavy tourism |
| Avintes | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Quiet suburb south of Porto with affordable property prices |
| Benfica | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Large residential neighborhood west of Lisbon with parks and family amenities |
| Braga (São Vítor) | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | University city in northern Portugal with stable rental demand |
| Estrela | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Elegant neighborhood in Lisbon with gardens and the famous Estrela Basilica |
| Gulpilhares e Valadares | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Coastal suburb south of Porto with beaches and reasonable prices |
| Ílhavo (São Salvador) | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Coastal town near Aveiro with ceramics industry and affordable homes |
| Odivelas | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Large suburb north of Lisbon with metro and low entry prices |
| Quarteira | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Coastal resort in the Algarve with sandy beaches and beach tourism |
| Santo António | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Elegant neighborhood in Lisbon with luxury shops and upscale restaurants |
| São Bernardo | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Residential area near Aveiro with low prices and quiet setting |
| São Domingos de Benfica | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Green residential area west of Lisbon near Monsanto Park |
| São Martinho do Porto | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Quiet coastal village with beautiful bay and summer tourism |
| São Vicente | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Historic neighborhood in Lisbon with flea market and panoramic views |
| Covas e Vila Nova de Oliveirinha | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Quiet rural area in central Portugal with very low prices |
| Sé Nova, Santa Cruz, Almedina e São Bartolomeu | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Historic center of Coimbra with ancient university and UNESCO heritage |
| Silvares, Pias, Nogueira e Alvarenga | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Rural area in northern Portugal with very low prices |
| Viseu | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Historic city in central Portugal with university and emerging property market |
| Águas Livres (Lisbon) | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Quiet residential area in Lisbon with affordable housing options |
| Santo António dos Cavaleiros e Frielas | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Suburb north of Lisbon with affordable family housing and metro |
| Avenidas Novas businessltrprofessional | €7,000–€8,500 (₪23,759–₪28,851) | 7.5%–9% | STR Restricted 🟡 RMAL 2025: outside absolute containment; exceptional AL approvals possible | Modern business quarter; strong professional LTR; outside absolute containment areas |
| Arroios / Sao Vicente gentrificationvaluemulticultural | €6,000–€7,500 (₪20,365–₪25,457) | 7.5%–9% | STR Restricted 🟡 RMAL 2025: check parish-level containment status | Multicultural; gentrifying; best value within Lisbon; STR possible outside containment |
| Alcântara | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Historic riverside neighborhood undergoing active urban renewal |
| Almada, Cova da Piedade, Pragal e Cacilhas | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Residential area on the south bank with lower prices and good connectivity to Lisbon |
| Arroios | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Multicultural and vibrant neighborhood in central Lisbon with good rental yields |
| Campolide | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Elevated residential area near Amoreiras with new development projects |
| Baixa da Banheira e Vale da Amoreira | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Low-price residential area on the south bank with growth potential |
| Covilhã e Canhoso | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Mountain town inland with university and seasonal rental demand |
| Évora de Alcobaça | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Small town near Alcobaça with cheap rural properties |
| Loures | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Suburb north of Lisbon with new residential projects and lower prices than center |
| Campo de Ourique villageltrresidential | €6,500–€8,000 (₪22,062–₪27,154) | 7%–8.5% | STR Restricted 🟡 RMAL 2025: containment status depends on parish; check before purchasing | Village-feel residential; strong LTR; young professionals; excellent amenities |
| Ramalde (Lisbon) | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Residential area in Lisbon with parks and family amenities |
| Parque das Nações | €6,900–€7,500 (₪23,420–₪25,457) | 7.5%–8.5% | N/A | Modern waterfront area with Vasco da Gama Tower and Expo |
Yield and price ranges are internal AI-research estimates from public real-estate portals (Tranio, Investropa, Globes, etc.), refreshed quarterly. Not primary-source data.
Investment Areas in Lisbon
Santa Marinha e São Pedro da Afurada
Riverside area in Gaia with views of Porto and wine cellars
Price from €6,900/m² (₪23,420/m²)
Santa Maria Maior
Historic heart of Lisbon with São Jorge Castle, fado, and tourism
Price from €6,900/m² (₪23,420/m²)
São João da Madeira
Small industrial city in northern Portugal with low property prices
Price from €6,900/m² (₪23,420/m²)
Várzea
Quiet residential area with green spaces and reasonable prices
Price from €6,900/m² (₪23,420/m²)
Santa Clara
Northern neighborhood in Lisbon with green spaces and reasonable prices
Price from €6,900/m² (₪23,420/m²)
Rio Tinto
Suburb east of Porto with low prices and nearby metro
Price from €6,900/m² (₪23,420/m²)
Moreira
Quiet residential area with local amenities and reasonable prices
Price from €6,900/m² (₪23,420/m²)
Paranhos (Lisbon)
University neighborhood in Lisbon with high student rental demand
Price from €6,900/m² (₪23,420/m²)
Torrozelo e Folhadosa
Rural villages in central Portugal with stunning nature and token prices
Price from €6,900/m² (₪23,420/m²)
Misericórdia
Historic neighborhood in the heart of Lisbon with nightlife, restaurants, and heavy tourism
Price from €6,900/m² (₪23,420/m²)
Avintes
Quiet suburb south of Porto with affordable property prices
Price from €6,900/m² (₪23,420/m²)
Benfica
Large residential neighborhood west of Lisbon with parks and family amenities
Price from €6,900/m² (₪23,420/m²)
Braga (São Vítor)
University city in northern Portugal with stable rental demand
Price from €6,900/m² (₪23,420/m²)
Estrela
Elegant neighborhood in Lisbon with gardens and the famous Estrela Basilica
Price from €6,900/m² (₪23,420/m²)
Gulpilhares e Valadares
Coastal suburb south of Porto with beaches and reasonable prices
Price from €6,900/m² (₪23,420/m²)
Ílhavo (São Salvador)
Coastal town near Aveiro with ceramics industry and affordable homes
Price from €6,900/m² (₪23,420/m²)
Odivelas
Large suburb north of Lisbon with metro and low entry prices
Price from €6,900/m² (₪23,420/m²)
Quarteira
Coastal resort in the Algarve with sandy beaches and beach tourism
Price from €6,900/m² (₪23,420/m²)
Santo António
Elegant neighborhood in Lisbon with luxury shops and upscale restaurants
Price from €6,900/m² (₪23,420/m²)
São Bernardo
Residential area near Aveiro with low prices and quiet setting
Price from €6,900/m² (₪23,420/m²)
São Domingos de Benfica
Green residential area west of Lisbon near Monsanto Park
Price from €6,900/m² (₪23,420/m²)
São Martinho do Porto
Quiet coastal village with beautiful bay and summer tourism
Price from €6,900/m² (₪23,420/m²)
São Vicente
Historic neighborhood in Lisbon with flea market and panoramic views
Price from €6,900/m² (₪23,420/m²)
Covas e Vila Nova de Oliveirinha
Quiet rural area in central Portugal with very low prices
Price from €6,900/m² (₪23,420/m²)
Sé Nova, Santa Cruz, Almedina e São Bartolomeu
Historic center of Coimbra with ancient university and UNESCO heritage
Price from €6,900/m² (₪23,420/m²)
Silvares, Pias, Nogueira e Alvarenga
Rural area in northern Portugal with very low prices
Price from €6,900/m² (₪23,420/m²)
Viseu
Historic city in central Portugal with university and emerging property market
Price from €6,900/m² (₪23,420/m²)
Águas Livres (Lisbon)
Quiet residential area in Lisbon with affordable housing options
Price from €6,900/m² (₪23,420/m²)
Santo António dos Cavaleiros e Frielas
Suburb north of Lisbon with affordable family housing and metro
Price from €6,900/m² (₪23,420/m²)
Avenidas Novas
Modern business quarter; strong professional LTR; outside absolute containment areas
Price from €7,000/m² (₪23,759/m²)
Arroios / Sao Vicente
Multicultural; gentrifying; best value within Lisbon; STR possible outside containment
Price from €6,000/m² (₪20,365/m²)
Alcântara
Historic riverside neighborhood undergoing active urban renewal
Price from €6,900/m² (₪23,420/m²)
Almada, Cova da Piedade, Pragal e Cacilhas
Residential area on the south bank with lower prices and good connectivity to Lisbon
Price from €6,900/m² (₪23,420/m²)
Arroios
Multicultural and vibrant neighborhood in central Lisbon with good rental yields
Price from €6,900/m² (₪23,420/m²)
Campolide
Elevated residential area near Amoreiras with new development projects
Price from €6,900/m² (₪23,420/m²)
Baixa da Banheira e Vale da Amoreira
Low-price residential area on the south bank with growth potential
Price from €6,900/m² (₪23,420/m²)
Covilhã e Canhoso
Mountain town inland with university and seasonal rental demand
Price from €6,900/m² (₪23,420/m²)
Évora de Alcobaça
Small town near Alcobaça with cheap rural properties
Price from €6,900/m² (₪23,420/m²)
Loures
Suburb north of Lisbon with new residential projects and lower prices than center
Price from €6,900/m² (₪23,420/m²)
Campo de Ourique
Village-feel residential; strong LTR; young professionals; excellent amenities
Price from €6,500/m² (₪22,062/m²)
Ramalde (Lisbon)
Residential area in Lisbon with parks and family amenities
Price from €6,900/m² (₪23,420/m²)
Parque das Nações
Modern waterfront area with Vasco da Gama Tower and Expo
Price from €6,900/m² (₪23,420/m²)
Editorial | CASABROVA
All articles →The Yield Illusion: Why Municipal STR Regulations are Destroying Cross-Border Valuations
A massive "Yield Illusion" has formed. Investors are pricing properties based on historical cash flows, fatally ignoring that hyper-local municipal regulations have decoupled historical performance from future returns.
Iberian Crossroads: Portugal vs. Spain for Real Estate Investors in 2026
Spain has tightened STR rules and abolished its Golden Visa entirely. Portugal pivoted — lifting license freezes but doubling entry tax. A surgical comparison of the four vectors that matter.
Market Review — Lisbon
Lisbon is Southern Europe's most polished real estate market — a city that has transformed from a budget destination into a global tech and lifestyle hub over the past decade. At €6,900–7,500/sqm, prices are approaching Western European levels, but STR yields of 7.5–8.5% remain strong enough to justify entry. LTR at 4–4.5% provides a stable baseline.
The STR regime in Lisbon is nuanced: new licenses in the historic center (Alfama, Baixa, Chiado) are restricted, but established licenses trade at a premium. The suburban ring (Almada, Cascais, Sintra) offers alternatives. Year-over-year growth of 6% is steady and sustainable — no longer the double-digit spikes of the Golden Visa era, which is actually healthier.
Post-Golden Visa, post-NHR, the investor profile in Lisbon is shifting from tax-optimizers to genuine lifestyle buyers and operators. This is positive for long-term market health. The Web Summit and tech startup ecosystem provide employment-driven demand that didn't exist a decade ago. Risk: Lisbon's rental market is increasingly regulated, with rent control proposals gaining political traction. For investors, the sweet spot has moved south to the Algarve and Silver Coast for yield, while Lisbon itself is increasingly a capital appreciation play.
Last updated: April 13, 2026
Discussions — Lisbon
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